...HUMAN RESOURCE ACCOUNTING AND ITS EFFECT ON ORGANIZATIONAL GROWTH Human Resource Accounting plays a major part in the development and growth of any organization. It primarily identifies the aspects of the progress in the company. This department determines the direction of the organization whether to move backward or to move forward in any industry. The development of human resource accounting originated from the growing needs of the importance of human assets in the management organization. It functions as the department that monitors the people who are involved in the organizational resources. In addition, it is doing the monitoring of the development, progress in assets and revenues of the company. Another function of human resource accounting is to be involved in the improvement of company’s concepts and models in determining the cost and value of the employees in the company. The third function of this department is doing research and trial in the application of all the dimensions in the organization. Human resource accounting is accountable for the deep studies on how to contribute more marketing plans and strategies that would help in the advancement of the organization and the people. The fourth function of HR Accounting is to apply the concepts and experiments into actual implementation in the company . And, the last function is to apply new and innovative ideas and concepts as well as human resource accounting technologies...
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...of HR Running Head: Importance of HRM in International Business Importance of HRM in International Business [Name of Author] [Name of Institution] 1- Outline Importance of human resource management is now globally recognized and business growth is related to better management of human capital of a company. The present research proposal, henceforth, sets ground to investigate the importance of managing, running, and stabilizing human resource in order for the growth of business. It aims to contribute to the existing research of human resource management (HRM) by organizing secondary sources and relating it specially to the expansion of business across borders that has come to be known as multinational companies operating in a number of different countries (INVESTOR, 2008). The paper also examines various facets and implications of across border business activities that aim to take place majorly due to HR issues such as mergers, acquisition, and so on (Chapman, 2001). Another important aspect of HR and business spreading over the international boundaries is cultural aspects of a specific region, country, or state that a business venture must come to recognized as a valid component. It is important to realize that in the flourishing of withering of a business local culture plays a decisive role. Related to this is the issue of workplace culture where, as in today’s global workplace, workers come from different cultures and backgrounds to work together. Hence it is...
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...Human Resource Management Learning Objectives • Explain what is meant by human resource management • Understand the relationship between human resource management and management • Describe the HR manager’s role • Understand the human resource management activities performed in organisations • Explain the meaning of strategy • Explain the meaning of strategic human resource management • Describe a strategic approach to human resource management • Appreciate the strategic challenges facing human resource management What is Human Resource Management? The focus of human resource management (HRM) is on managing people within the employer-employeerelationship. It involves the productive use of people in achieving the organisation's strategic business objectives and the satisfaction of individual employee needs. HRM is a major contributor to the success of an enterprise because it is in a key position 'to affect customers, business results and ultimately shareholder value'. Ineffective HRM is a major barrier to employee satisfaction and organisation success. HRM and Management The purpose of HRM is to improve the productive contribution of people, and should therefore be related toall other aspects of management. There are two basic approaches to HRM: Instrumental HRM - (or hard) approach that stresses the rational, quantitative and strategic aspects of managing human resources; and humanistic HRM - (or soft) approach that emphasises the integration of HR policies...
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...DEFINITION OF STRATEGIC HUMAN RESOURCE MANAGEMENT Strategic human resource management is that management think periodically to attain benefit to the company or meet the requirement of employee. Improving everything’s in business site, give training to employee, analysing and development technique. Moreover strategic human resource management can involve in any aspect of the company which relate with employee. Core element of strategic human resource management recruiting staff give training to them, solving employee issues as well maintain relation between organisation and staff .Also Human Resource Management help to motivate worker in work to increase productivity. Strategic human resource management play very key role in the company to maintain position or increase productivity....
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...Human resources From Wikipedia, the free encyclopedia For other uses, see Human resources (disambiguation). "Manpower" redirects here. For other uses, see Manpower (disambiguation). Human Resources | Occupation | Occupation type | Department of a Company | Activity sectors | Economy and Business | Description | Competencies | Staffing (Recruitments, Dismissals, Managing Labour Law, Employment Standards, Administration and Employee benefits) and bring out the best Work Ethic | Related jobs | Workforce, Human Capital, Manpower, Talent, Labour, Personnel, People | Business administration | | * Company * Business * Conglomerate | Business organization[show] | Business entity[show] | Corporate governance[show] | Corporate titles[show] | Economy[show] | Corporate law[show] | Finance[show] | Accounting[show] | Trade[show] | Organization[show] | Society[show] | Types of management[show] | * v * t * e | Human resources are the people who make up the workforce of an organization, business sector, or economy. "Human capital" is sometimes used synonymously with "human resources", although human capital typically refers to a more narrow view (i.e., the knowledge the individuals embody and economic growth). Likewise, other terms sometimes used include "manpower", "talent", "labour", "personnel", or simply "people". A human resources department (HR department) of a company performs human resource management, overseeing various aspects of employment, such...
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...banking industry in addition to competition in market is getting intense day by day. The management is required to optimally deploy its resources for enhancing profitability and growth of business. The need of minimizing to vulnerability of depending on single market is also crucial and required business expansion in different regions. It is therefore necessary for the management of the bank to strategically utilize its limited resources so that the growth of the bank can be maintained in the competitive environment. The role of management practices is crucial in ensuring the business growth but necessary to be aligned with the rapidly changing behavior of market. It was highlighted by Charles Hill & Dr. Jones (2007; pp. 335) that management enhances its skills for exploring new business opportunities and deploys its resources to fulfil the needs of market. In this regard the strategy of business is also required to be appropriate so that it can enable the management to attain its goals. These measures particularly enhance the management skills through which the influence of market environment on operations can be ascertained. It is therefore crucial for the management to adopt appropriate strategy because it helps in strategically managing the operations of bank. Through strategic management practices the growth of bank can be instigated in the market. In this project, strategic management practices of the Royal Bank of Scotland (RBS) are explored. 2. Research Questions ...
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...the loretront of competitive thought for shaping commerce into the next millennium. Yet, many business leaders would argue that growth never left the collective corporate consciousness. They contend that the downsizing and cost cutting of the early 1990s were done to position the company for growth. This may be true; however, activities focused on the cost side of the profit equation were a relatively simple "strategy" to pursue. 38 HUMAN RESOURCE PLANNING Witli laptops in liund, armies ol consullaiils were employed lo chum out graphs, charts, and tables that bolstered recommended head cuts in organizations across the globe. However, these activities have now given way to more popular growth activities. Strategies such as mergers and acquisitions, new market penetration, mass customization, customer intimacy, strategic alliances, and the like are all in the sights of businesses large atid small. More difficult than a downsizing strategy to develop and document, growth strategies, once contrived, present management with an even greater challenge: how to make their strategies work. Turning strategic plans into tangible business results can frustrate even the most seasoned manager. Unfortunately, the scenario follows an all-too-familiar pattern. First, there is often surprise that planning is even taking place. Consultants are brought in by senior management. They set up in a back room with a small team from the client (usually included for "involvement"...
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...Human Resource Management Case Study Report Ernst and Young Lauren Dixon - 18174 Ernst and Young Background to Human Resources and Strategy: Definition of HR Human Resources is the sector of a company that is attentive on actions relating to its employees. Some of these activities can include recruiting and hiring of new employees, training of current employees, orientation, employee benefits and firing. Definition of Strategy A strategy is way of devising a route to reach a specific goal. It can be seen as a way of gaining a possible advantage over an opponent. As there is no was to predict the future, strategy is likened to a set of possibilities rather than a set idea. Relationship between HR and Strategy Human resources and strategy will always have an extremely essential bond. Every company’s human resources sector will want to be able to provide sound strategy’s to implement upon their employees. Company’s want to be able to say that they have the best equipped staff for their jobs, that their strategy’s are extremely successful in training staff; increasing sales, reaching goals, and different types of recruitment. Making a company strive comes from having human resources aware of what strategies need to be created and implemented appropriately. An operational human resources sector of a business should be able to organise staff to efficiently and effectively reach its company’s goals and aims. Background to Ernst and Young Ernst...
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... The role of Human Resource management in tourism TABLE OF CONTENT 1. Human-Resource management in Tourism 2. Pentravels Human Resource management philosophy 3. Reference list 1. Human-resource management in Tourism The purpose of this report is to discuss the role that Human-resource management has in the tourism and hospitality industries and the challenges that the tourism and hospitality industry in South Africa face. Pentravel is a well known tourism organisation situated in the Garden Route mall; their human-resource management philosophy is also discussed. Human-resource management according to Susan M. Heathfield (2012) can be defined as the framework for helping employees develop their personal and organizational skills, knowledge, and abilities. Human Resource Development includes such opportunities as employee training, employee career development, performance management and development, coaching, mentoring, succession planning, key employee identification, tuition assistance, and organization development. Human-resource management can also be defined as a way of management that links people-related activities to the strategy of a business or organisation. Human-resource management has several goals such as: * To meet the needs of the business and management * To link human resource strategies * To find ways for human resources to “add value” to a business. (tutor2u, n.d) Human-resource management means many things...
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...Challenges of Strategic Human Resource Management Name: Course: Tutor: Date: Abstract Human resource management has become very important in modern organizations and this is because the knowledge-based economy of today requires that employees contribute their ideas and be actively engaged in the execution of company strategy. Because of this, it has become a strategic partner through the identification of skills needed by employees and the consequent provision of employees with the structures and training required to deploy and develop those competencies. All human resource elements including selection and placement, job design and compensation thus have to be aligned with the strategies of the company so as to ensure that only the right employee is hired for the right job and consequently properly rewarded for their input and contributions to the furtherance of the company objectives. Strategic human resource management is therefore a key element in the overall strategic management of a company. This is however not been without challenges. This paper discusses the challenges experienced in the execution of a strategic approach to human resource management. Functions of the Human Resource Department Apart from ensuring compliance with the rules and regulations, human resource management has various elements including workforce recruitment and planning, induction, orientation of new employees, training, appraisal and administration (Dessler...
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...White Management is the steps that it takes to work with people and resources to accomplish organizational goals. In management all resources whether human or physical needs to be grouped according to its functions. This is done through the organizing function of management. In today’s business society great top management adapt well to conditions as they rapidly change and do so with great rigor, consistency and discipline; applying the traditional four functions of management does this and they are planning, organizing, leading, and controlling. This paper will evaluate the organizing function of management at the Nike Company and show how it relates to human resources and Technology; this paper will also discuss whether or not it has optimized these resources for effectiveness and efficiency with justification. Organizing Function of Management In the leadership of business one of the most important aspect business is the organizing function of management. By correctly implementing the organizing function of management could easily break or make a business. The organizing function of management plays a big part on all levels of a business’s operations. To began with it addresses the manner in which people with the organization will interact, who will report to who in each department, which is a reason why an organizational chart is used and it shows the lines of authority. All of these are aspects of organization and personnel management that comes under...
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...ExxonMobil MGT/521 Management Profesor Clance Doelling, MBA, BSME May 28, 2012 Introduction ExxonMobil is recognized as one of the world’s prominent oil and gas companies. They control market products and facilities nationwide. ExxonMobil is involved in marketing, gas, and oil exploration, transportation and production in approximately 200 countries. They manufacture aromatics, petrochemicals, polyethylene, olefins, and polypropylene plastics (ExxonMobil, 2012). ExxonMobil provides services and products under brands names Mobil, Esso, and Exxon. ExxonMobil is recognized as one of six of the largest oil refineries in the world. They own subsidiaries, such as the imperial oil limited in Canada and the sea river maritime a petroleum shipping company. The company is divided into different operating categories, such as upstream, downstream, and chemical. ExxonMobil has been successful because of their adaptation to change, its diversity, and desire to eliminate barriers. To remain successful in every aspect of the oil industry they must be at the leading edge of the competition. For this to be possible ExxonMobil must require the corporations operational, financial, human, and technological resources be evaluated frequently and used wisely. ExxonMobil makes every effort to improve productivity through learning, implementing best practices, sharing, and improving efficiency. ExxonMobil also strives to achieve superior operating and financial results as they adhere...
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...In this essay human resource management and its developmental history is going to be presented. The two models ‘The Guest Model’ and ‘The Storey model of HRM’ are discussed along with its application into the hotel industry. The growth and development of each and every industry depends upon certain factors or resources such that human resources, financial resources etc. The most critical factor among them is human resources factors. So to manage them properly, there is need of certain theories and practices. To handle these factors, management that is called human resources management is used (Price, 2011) Human resources management is collection of the strategies that are designed and implement to manage people to achieve the goal and objectives of the business. The strategies include the growth of policies and processes to maintenance of human resources Mullins (2010). Workers or employees are considered as critical factor to achieve the competitive advantages. Corporate strategies are integrated by using HR practices and in this context HR manager or specialist organise all the activities efficiently Bratton and Gold (1999) Now days working environment and relationships among employees and employers have been changed because of the impact of globalisation and competition all over the world. These changes are result of emergence of human resource management. Human resources can handle these types of situations so there is need to manage them in progressive manner (Redman...
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...includes those players whose decisions and actions have a direct impact on the company. Production and selling of commodities are the two important aspects of modern business. Accordingly, the micro environment of business can be divided. The various constituents of micro environment are as under: Suppliers of inputs: An important factor in the external micro environment of a firm is the supplier of its inputs such as raw materials and components. Normally, most firms do not depend on a single supplier of inputs. To reduce risk and uncertainty business firms prefer to keep multiple suppliers of inputs. Customers: The people who buy and use a firm’s product and services are an important part of external micro environment. Since sales of a product or service is critical for a firm's survival and growth, it is necessary to keep the customers satisfied. A concern for customers’ satisfaction is essential for the success of a business firms. Besides, a business firm has to compete with rival firms to attract customers and thereby increase the demand and market for its product. Marketing intermediaries: In the firm's external micro environment, marketing intermediaries play an essential role of selling and distributing its products to the final customers. Marketing provides an important link between a business firm and its ultimate customers. Competitors: Different firms in an industry compete with each other for sale of their products. This competition may be on the basis...
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...Human Resource Planning Assignment #1 Submitted by: Larissa Kunashko Lydia Abraham Sunny (Baoyue) Cai Veronika Savina Submitted to: Yvonne Francis Table of Content EXECUTIVE SUMMARY-------------------------------------------------------------------------------Page 2 PART A. The Organization and Its Mission History of the Organization ------------------------------------------------------------- Page 3 Corporate and Business Strategies ----------------------------------------------------- Page 3 Environmental Challenges Challenge from Competitors ------------------------------------------------------- Page 4 Geographic Challenge ---------------------------------------------------------------Page 4 Economic Challenge -----------------------------------------------------------------Page 4 Challenge from Technology --------------------------------------------------------Page 5 Challenge from Political Legislation ----------------------------------------------Page 5 Social and Cultural Challenge ----------------------------------------------------- Page 6 Competitive Position ---------------------------------------------------------------------Page 6 Competitive Advantages ---------------------------------------------------------------- Page 6 Industry Analysis ------------------------------------------------------------------------ Page 7 Company Structure ---------------------------------------------------------------------- Page 7 PART B. The...
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